FX Choice Pros and Cons
Although we’ve written extensively on this broker in our complete review and analysis of FXChoice, this pros and cons article offers some quick facts and considerations to help you determine if FXChoice is the forex broker for you.
FXChoice Pros and Cons – Is FXChoice the Right Choice?
FXChoice is a broker that isn’t widely known in the forex trading community, unlike other forex trading brands such as IC Markets, Pepperstone or XM. Even so, FXChoice still ranks high as a reputable broker with a worthwhile product offering.
Choosing the right forex broker for you can be tough. Not every trader has the same demands, and there are so many brokers out there, and it can be hard to tell them apart. Choosing the right broker is an important decision as you need to be careful where you will deposit your money. You also need to consider if they will offer the best trading conditions, tools and support that help you succeed.
In this FXChoice pros and cons guide, we offer a section of advantages, disadvantages and a list of points that may be advantages or disadvantages depending on your perspective.
FX Choice Pros:
- True ECN brokerage model – FXChoice offers some of the most competitive spreads in the market for trading forex and CFDs.
- High level of customer satisfaction – FXChoice ranks high in customer satisfaction ratings. The company has one of the highest satisfaction ratings on the popular Forex Peace Army website.
- FXChoice offers bonuses – Forex brokers offering bonuses is a rarity these days. The company offers a competitive bonus to new customers. The bonus provided us up to 15% on your first deposit to a maximum amount of $5,000. Check the terms and conditions before proceeding.
- A wide range of funding methods – FXChoice offers numerous deposit and withdrawal methods such as Bitcoin, Bitcoin Cash, wire transfer, Skrill, Neteller, Fasapay, Perfect Money, ePayments and Qiwi.
- Low barrier to entry – The minimum deposit to start trading with FXChoice is just $100. Subsequent deposits can be even lower.
- Pips+ loyalty program rewards active traders – If you’re an active trader, you might be interested in the FXChoice Pips+ loyalty program. The program offers either rebates or tiered commission discounts based on trading volume turnover over 30 days or account equity.
FX Choice Cons:
- Trading platforms – They only offer 3 trading platforms, Metatrader 4/5 and webtrader.
- Trading instruments – A lack of trading instruments compared to other competing brokers, no cryptocurrency trading.
- A lack of educational material for beginners.
Do you agree or disagree? Would love to hear your input. Please comment below!